Greece has successfully returned to the sights of significant foreign investors and investment funds, especially for a long-term placement, Vassilios Karamouzis, the general director National Bank’s (NBG) corporate and investment banking, emphasized over the weekend.
Karamouzis spoke during a panel on “Large projects transforming Greece” at the 25th annual Capital Link Invest in Greece Forum in New York City.
During the discussion he cautioned, however, that “in order to continue the upwards course of the economy, implementation of significant infrastructure projects is necessary.”
Indicatively, he said that up until 2030 there are roughly 190 infrastructure projects in the ‘pipelines,’ including new highways, airports and ports, with a total value of 28 billion euros. Additionally, an ongoing “digital transition” involves projects worth hundreds of millions of euros in value, including new fiber optic networks and data centers.
Karamouzis said more investments are necessary in the all-important tourism sector, especially construction of modern and viable tourism accommodations.
He also cited projects dealing with Greece’s “energy autonomy” and its continued transformation into an energy “hub” in the wider region, as entailed in transport networks, storing and transmitting electricity and LNG. Along those lines, he pointed to investment in renewable energy sources, exploiting current and new technology.
“Such investment activity is taking place amid an environment of high interest rates, uncertainty regarding energy costs, heightened inflation and other volatile factors, including geopolitical tensions and health crises,” Karamouzis said.
